Bitcoin is a decentralised digital currency that works on peer-to-peer networks, eliminating operating authority. The transactions are recorded in a distributed ledger called Blockchain. On 18th Aug 2008, a Bitcoin.org domain was registered. Right after, on 31st Oct 2008, a link to a paper was published penned by Satoshi Nakamoto. However, the identity of Satoshi Nakamoto is unknown. Bitcoins are created as a reward for Mining, where large computers run codes, solve complex algorithms and generate Bitcoins as a reward. The supply of Bitcoin is limited to 21 million.

How Bitcoin works?

Bitcoin is a peer-to-peer network that works on Blockchain technology. There is no involvement of any financial institution or bank. The transactions are recorded directly in a network called blocks which is nearly impossible to alter. A block is the union of multiple transactions protected and recorded in a hash (a group of public and private keys). Every new block's hash encompasses the new hash and the hash of the previous transaction. So anyway, if it is attempted to amend will get discarded from the network.

How to Buy Bitcoin in INR?

There are many platforms where you can invest and trade Bitcoin in INR. One such platform is Flitpay. To buy Bitcoin in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.
After the KYC approval, ensure you have correctly entered your bank details. Through the linked bank account, deposit the amount you want to buy a Bitcoin and execute the purchase. You can instantly convert your INR to Bitcoin and Bitcoin to INR and withdraw your INR through bank transfers whenever you want.
It is as easy as it sounds.

Bitcoin Price History and Analysis

Bitcoin and other cryptocurrencies are the hot talks of the Digi-town nowadays. Because of this, each one of us is excited to enter this crypto world. Before making a Bitcoin purchase, it is very important to know and analyse Bitcoin price history.
Let's have a look at it. Despite such a volatile price history, Bitcoin has come a long way and set out a remarkable place in the world of cryptocurrency.

The very first outrageous Bitcoin price jump took place in 2011 when the price of Bitcoin, valued at $1 in April, outperformed and hit $32 in June, but there was a sudden recession in Bitcoin price; it fell to $2 in November 2011, followed by a gradual increase from $4.80 to $13.20 in 2012.

In 2013 Bitcoin price suffered two comebacks and falloffs; one was when the price strike $220 at the beginning of 2013 and ended up being $70 in mid-April. Another one was when the Bitcoin price reached $ 1156 in December and, after three days, crashed to $760.

2017 was the year to be written in the golden letters in crypto history when the price of Bitcoin rose from $975.70 in March to $20,089 in Dec. From here, it came to the notice of the government and many investors.

From here on, the Bitcoin price kept rolling back and forth. In 2019 it went to $10000, declining to $7112 in December.

It was the effect of the pandemic that the fear of the global economy prevailed among investors, and Bitcoin prices surpassed.

In 2021 the prices set to $60000 in March 2021, which was an all-time high in history. On 21st Apr, Bitcoin peaked at $64000; however, the price fell to $32000 in mid-year, going to $50000 after that and then again decelerating to $32500.

From the above fact and figures, we can conclude that Bitcoin has gained its value much faster than Gold, and it's a novelty asset, and it will continue to be that. It holds the potential that no other asset does.

FAQ

How can I buy Bitcoin instantly in India?

You can buy Bitcoin instantly in India through Flitpay- a cryptocurrency exchange. This platform provides innovative services along with a user-friendly interface.

How you can buy Bitcoin?

To buy Bitcoin in India, sign-up to the Flitpay app or web and follow the below-mentioned steps:

1. Click on the Quick/buy-sell option on the App or Markets on the web.
2. Select BTC from the list on the app or the drop-down if using the web.
3. Enter the amount in the order book appearing on the right below and click buy.                 

 How do I convert BTC to INR on Flitpay?

Converting BTC to INR on Flitpay is a very easy process. Whenever you sell your BTC, the INR will be automatically added to your Flitpay wallet instantly, and you can withdraw your converted BTC to INR in your registered bank account anytime.

Is Bitcoin legal in India?

In June 2021, the Reserve bank informed banks that they could not warn people trading in Bitcoin and other cryptocurrencies, which means people can openly trade in Bitcoin and other cryptocurrencies.

What is the best time To Buy Bitcoin?

As Bitcoin price has surged a lot over the past few years, it is expected to hit very high in the coming years due to its technology and limited supply. So, the best time to buy Bitcoin is from where you have decided to HODL it.

Generally, it is suggested to buy Bitcoin during the market dip.

Where to buy Bitcoin in India?

There are a lot of platforms to buy Bitcoin in India, But, Flitpay is the platform that provides real-time rates and instant conversion of BTC in INR. Also, Flitpay offers multiple crypto services unavailable on any other platform.